Tag: ASX 200 Index

Australia’s ASX 200 retreated below the band of resistance at 4350/4400. Recovery above 4400 would confirm the primary up-trend signaled by the 63-day Twiggs Momentum cross to above zero. Target for an advance would be the 2011 high at 4900*.

* Target calculation: 4400 + (4400 – 3900) = 4900

On the daily chart, however, bearish divergence on 21-day Twiggs Money Flow highlights medium-term selling pressure, warning of a correction. Breach of the rising trendline and support at 4250 would confirm, signaling another test of primary support at 4000.

Australia’s ASX 200 index is testing the band of resistance between 4350 and 4400. Breakout would confirm the primary up-trend signaled by a 63-day Twiggs Momentum cross to above zero. Target for the long-term ascending triangle would be the 2011 high at 4900*.

* Target calculation: 4400 + (4400 – 3900) = 4900

The ASX 200 broke medium-term resistance at 4300, indicating an advance to 4400. Recovery of 63-day Twiggs Momentum above zero suggests a primary up-trend. Breakout above 4400 would confirm, offering an initial target of 4800*.

* Target calculation: 4400 + ( 4400 – 4000 ) = 4800

The biggest obstacle to an ASX up-trend is weakness in China. Signs that a bottom is forming would boost the ASX but that is not evident at present.

Australia’s ASX 200 index displays stubborn resistance at 4300, but rising 13-week Twiggs Money Flow indicates buying pressure. Upward breakout would signal a primary up-trend, with an initial target of 4650 and a long-term target of 4950*. The right-angled broadening pattern reflects weak support and downward breakout would test primary support at 4000.

* Target calculation: 4400 + ( 4400 – 3850 ) = 4950

The ASX 200 continues in a narrow consolidation between 4300 and 4150, indicating uncertainty. Rising 13-week Twiggs Money Flow is a positive sign and recovery above 10% would suggest a primary up-trend. Breakout above 4300 would likewise suggest an up-trend, while follow-through above 4400 would confirm.

* Target calculation: 4400 + ( 4400 – 3800 ) = 5000

The ASX 200 Hourly chart shows a sharp rally and we can expect a test of 4300/4320 tomorrow. Breakout would signal an advance to 4450*. Reversal below the trend channel is unlikely, but breach of support at 4250 would warn of another correction.

* Target calculation: 4300 + ( 4300 – 4150 ) = 4450

The ASX 200 Index continues to signal medium-term selling pressure with 21-day Twiggs Money Flow respecting the zero line (from below). Reversal below 4180 would suggest (and below 4150 confirm) a correction to test primary support at 4000.

Australia’s ASX 200 index broke medium-term support at 4175/4180, warning of another test of primary support at 4000. Respect of the zero line (from below) by 63-Day Twiggs Momentum indicates continuation of the primary down-trend. The broad band of support between 3800 and 4000 is likely to hold, but failure would signal a decline to 3500*.

* Target calculation: 3900 – ( 4300 – 3900 ) = 3500

The ASX 200 Index is forming a bottom between 4000 and 4400 after breaching its descending trendline. Breakout above 4400 would signal the start of a new up-trend, but that may be some way off. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal. For the present we continue in a narrow consolidation below 4300. Upward breakout would test 4400, while breach of the rising trendline would warn of another test of primary support at 4000.

* Target calculation: 4400 + ( 4400 – 4000 ) = 4800